Locked Money announces beta launch of trustless digital asset management solution
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Blockchain startup Locked Money announced the Beta launch of its trustless digital asset management solution, backed by over $1.1 million in seed and private investment rounds from within its community. The cutting-edge trading platform combines the benefits of custodial and noncustodial solutions, allowing users to retain full control of their assets while accessing sophisticated legal frameworks, unparalleled tax benefits, and best-in-class asset protection.
In the rapidly evolving crypto space, centralized custodial solutions have proven time and again to be virtual honeypots for hackers, scammers, and bad actors representing a single point of failure that places users’ funds at risk. More than $1.7 billion was stolen from centralized exchanges in 2023 and $3.8 billion in 2022. The changing regulatory landscape creates additional complexity as centralized entities are subject to laws within their jurisdictions and may have to hand over customer data, freeze accounts on request, or delist certain digital assets.
The European Union’s upcoming Markets in Crypto-Assets Act (MiCA), for example, has seen several exchanges, including Bitstamp and OKX delisting all “noncompliant” stablecoins from their European-based platforms, including Tether’s USDT, still the industry’s most widely used stablecoin and third-largest cryptocurrency by market cap. Crypto users have learned the hard way that trusting a centralized entity with your keys means giving up sovereignty over your assets.
With the popularity of DeFi solutions on the rise and ~$100 billion of total value locked (TVL) in its various protocols, the need for advanced noncustodial solutions has never been more pressing. Locked Money tackles the issues inherent in centralized custodians by combining the security of cold storage trustless vaults with the benefits of traditional finance providing a secure, tax-efficient, and user-friendly service that meets the rising needs of today’s crypto investors.
The Locked Money platform is powered by the LMY Token which facilitates staking and other utility functions, enabling users to unlock benefits and rewards, such as sharing 10% of the revenues generated from subscriptions. The Beta launch of Locked Money marks a significant milestone in the platform’s development, which has already been security audited by the Peckshield security audit firm and continues to raise awareness and build a community around the project before a public token sale preceding the mainnet launch.
Locked Money’s leadership team combines experience in traditional finance, digital assets, computer engineering, and compliance, working with top-tier global companies and Big 4 legal firms. Some of the project’s advisors include global web3 public relations experts Dverse, and renowned tokenomics lead Mark Mhilli.
Locked Money CEO Gediminas Butkus commented:
“We’re thrilled to release the Beta version of Locked Money and can’t wait to see how people interact with the mainnet and receive their feedback on our product. We’ll be spending the next few weeks fine-tuning the platform and growing the community before preparing for mainnet launch.”
He added:
“With so many incidents surrounding crypto custody by centralized entities, we can’t wait to deliver the crypto market the solution they’ve been seeking, coupled with expert asset management services and guidance to elevate their digital wealth strategies.”
The platform is currently available for the public in the coming weeks.
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About Locked Money
Locked Money is a disruptive trustless digital asset management platform that combines the benefits of custodial and non-custodial solutions to give users full control over their assets while offering sophisticated legal frameworks, tax benefits, and digital asset protection. The company addresses the challenges of the DeFi sector by providing a secure, tax-efficient, and user-friendly service that meets the rising needs of crypto investors. The platform offers a multi-signature solution and a four-tier subscription model powered by the $LMY token that facilitates staking and other utility functions.
Media Contact
Organization Name – Locked Money
Website – https://locked.money/
City & Country: Saint Vincent & Grenadines
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